US fund becomes India’s DEN biggest owner
By Chris Forrester
India’s cable DEN Networks has a new shareholder in the shape of US investment fund Teachers Insurance Annuity/College Retirement Equities Fund (TIAA/CREF), which has bought 1.3 million shares (about 1 per cent) of DEN paying Rs 145 million ($2.6m), and taking TIAA/CREFR’s total holding to 5.93 per cent.
The stake makes the Teachers/College fund the largest independent shareholder in DEN, and the purchase helped drive DEN’s shares 7.29 per cent higher on July 13th to Rs122 on the Bombay stock exchange.
By Chris Forrester
India’s cable DEN Networks has a new shareholder in the shape of US investment fund Teachers Insurance Annuity/College Retirement Equities Fund (TIAA/CREF), which has bought 1.3 million shares (about 1 per cent) of DEN paying Rs 145 million ($2.6m), and taking TIAA/CREFR’s total holding to 5.93 per cent.
The stake makes the Teachers/College fund the largest independent shareholder in DEN, and the purchase helped drive DEN’s shares 7.29 per cent higher on July 13th to Rs122 on the Bombay stock exchange.